Blue Apron Holdings Inc (NYSE:APRN) shot up 6.4% during mid-day trading on Monday . The stock traded as high as $1.51 and last traded at $1.50. 4,474,765 shares were traded during mid-day trading, an increase of 23% from the average session volume of 3,648,557 shares. The stock had previously closed at $1.41.
Several research firms recently issued reports on APRN. Zacks Investment Research downgraded Blue Apron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Barclays cut their price objective on Blue Apron from $3.50 to $2.50 and set an “equal weight” rating on the stock in a report on Monday, August 6th. Morgan Stanley cut their price objective on Blue Apron from $1.90 to $1.30 and set an “equal weight” rating on the stock in a report on Friday, August 3rd. SunTrust Banks reiterated a “hold” rating and issued a $2.00 price objective on shares of Blue Apron in a report on Thursday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $6.00 price objective on shares of Blue Apron in a report on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. Blue Apron has a consensus rating of “Hold” and an average price target of $3.34.
The company has a quick ratio of 2.30, a current ratio of 2.74 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $271.42 million, a price-to-earnings ratio of -0.77 and a beta of -0.10.
In other news, major shareholder First Round Capital Iv, L.P. sold 1,300,000 shares of the stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $1.70, for a total value of $2,210,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Ilia M. Papas sold 133,134 shares of the stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $1.49, for a total value of $198,369.66. Following the completion of the transaction, the chief technology officer now owns 194,777 shares in the company, valued at approximately $290,217.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,589,039 shares of company stock worth $2,693,555. 56.24% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP increased its holdings in shares of Blue Apron by 3.7% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 4,025,413 shares of the company’s stock valued at $13,425,000 after acquiring an additional 142,660 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Blue Apron by 285.7% in the 2nd quarter. Millennium Management LLC now owns 2,242,735 shares of the company’s stock valued at $7,513,000 after acquiring an additional 1,661,211 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Blue Apron by 216.9% in the 3rd quarter. Raymond James Trust N.A. now owns 150,451 shares of the company’s stock valued at $259,000 after acquiring an additional 102,982 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Blue Apron in the 3rd quarter valued at about $208,000. Finally, Northern Trust Corp increased its holdings in shares of Blue Apron by 55.8% in the 2nd quarter. Northern Trust Corp now owns 85,533 shares of the company’s stock valued at $287,000 after acquiring an additional 30,625 shares during the last quarter. Institutional investors and hedge funds own 13.11% of the company’s stock.
WARNING: “Blue Apron (APRN) Shares Up 6.4%” was originally reported by Week Herald and is owned by of Week Herald. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://weekherald.com/2018/11/07/blue-apron-aprn-shares-up-6-4.html.
About Blue Apron (NYSE:APRN)
Blue Apron Holdings, Inc operates an e-commerce marketplace that delivers original recipes and fresh ingredients for making home cooking accessible. It provides original recipes with the pre-portioned ingredients to complement tastes and lifestyles of college graduates, young couples, families, singles, and empty nesters.
Featured Article: Analyzing a company’s cash flow statement
Receive News & Ratings for Blue Apron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Apron and related companies with MarketBeat.com's FREE daily email newsletter.